• Net profit of €133m for Q1 21 compared to a net loss of €291m for Q1 20
• Swing from a loss of €304m for the fair value result in Q1 20 to a profit of €360m in Q1 21
• Risk result (loan losses) declined from €326m for Q1 20 to €149m for Q1 21 but increase expected from H2 21 onwards
• Restructuring charges of €465m in Q1 21 and another €680m in Q2-Q4 21

12 May 2021
Surprisingly good Q1 figures, net profit despite high restructuring charges

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Surprisingly good Q1 figures, net profit despite high restructuring charges
• Net profit of €133m for Q1 21 compared to a net loss of €291m for Q1 20
• Swing from a loss of €304m for the fair value result in Q1 20 to a profit of €360m in Q1 21
• Risk result (loan losses) declined from €326m for Q1 20 to €149m for Q1 21 but increase expected from H2 21 onwards
• Restructuring charges of €465m in Q1 21 and another €680m in Q2-Q4 21